Direct Tax Services
Select Your Location
A License issued or permission granted by the municipal corporation permitting to carry on a particular trade on a particular address. It is often a time consuming and expensive process as it may be the case that setting up a single business requires multiple types of licenses, depending upon the type of business ownership, activities in which the business is dealing, the number of employees, etc. Localized licenses are often required in different geographical units with respect to the various taxes imposed on such units. The license must be obtained by the authority before starting manufacturing, exchange or storage of any activity/commodity.
It is a means to ensure that the manner and locality in which the business is being carried on is according to the relevant rules, standards and safety guidelines.
Table of Contents
Registration of business is different from obtaining a Trade License. Trade license is the permission that one needs to get from the government to begin a business. In this blog, I have discussed the process to obtain a trade license. It is a method to regulate the trade and to ensure compliance with rule and safety guidelines issued by the government and to protect the interest of the public at large against the health hazard and inconvenience which a business may cause.
The government has made it necessary for one to obtain a trade license to ensure that one is not carrying out unethical business practices and is following relevant rules, safety measures and guidelines. The trade license was made compulsory to ensure that the government can regulate various trade activities in the country. The main object of getting a trade license is to control business locations by way of putting constraints on people from running certain types of businesses from their home to maintain a separate business environment.
It controls the number of specific responsibilities of the entrepreneur in connection with his business.
Also, Read: What Is the Importance of Obtaining a Trade License?.
Obtaining a trade license is very simple. However, the procedure varies from state to state. The applicant is required to submit the application to the concerned authority (Municipal Corporation). The application is processed within 7-10 days in metro cities. In other smaller cities and rural areas, it takes longer. Once a license is issued by the authority it has to be renewed periodically to ensure that the business is being carried out in accordance with local laws.
Details of business or service center and the owner (Utility Bill, Rent agreement, Fire department NOC)
*In case the premise is managed by a person other than owner then ID & Address proof of such person is required.
Business or service center address(where the post can be mailed) and other documents as may be required.
Municipal tax receipts.
Pan card of the company.
People Also Read: Trade License Registration and Procedure.
Experienced Finance and Legal Professional with 12+ Years of Experience in Legal, Finance, Fintech, Blockchain, and Revenue Management.
The Reserve Bank of India, in its press release dated June 8, 2023, issued Statement on Develop...
RBI released a developmental and regulatory policy statement on June 8, 2023. The objective of...
Financial Institutions called Asset Reconstruction Companies ("ARCs") reconstruct and securitis...
Any person booked for an offence under the Criminal Procedure Code (CrPc) / the Code would be r...
The Reserve Bank of India regulates Non-Banking Financial Companies in India, and they are subj...
The Reserve Bank of India regulates Non-banking Financial Companies in accordance with the RBI...
Incorporation of a Limited Liability Company (LLC) is an attractive choice for small business o...
The Reserve Bank of India (the Bank) issued Non-Banking Financial Companies Acceptance of Publi...
A few years ago, investing in traditional investment categories like shares, bonds, real estate...
Compared to other organisations, the corporate governance of Non-Banking Financial Companies is...
Are you human?: 6 + 6 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
If you wish to start your own business in the form of a shop, factory or any other establishment, you will be requi...
05 Feb, 2018
In this article, we will discuss the Difference between Trade and Shop Establishment License. Differences between T...
20 Apr, 2018
Red Herring Top 100 Asia enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2000 privately financed companies each year in the Asia. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.
Researchers have found out that organization using new technologies in their accounting and tax have better productivity as compared to those using the traditional methods. Complying with the recent technological trends in the accounting industry, Enterslice was formed to focus on the emerging start up companies and bring innovation in their traditional Chartered Accountants & Legal profession services, disrupt traditional Chartered Accountants practice mechanism & Lawyers.
Stay updated with all the latest legal updates. Just enter your email address and subscribe for free!
Chat on Whatsapp
Hey I'm Suman. Let's Talk!